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can you please check and make sure my answers are right? Suppose you purchased a house 3 years ago and took out a mortgage for

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can you please check and make sure my answers are right?

Suppose you purchased a house 3 years ago and took out a mortgage for $200,000 with a 7.5% interest rate. The mortgage is a 30 year mortgage with monthly payments. Today you can refinance the loan at a 6.5% interest rate for a fee of $7,500. Assume that you would only refinance enough to repay the old loan and the cost of refinancing. A - If you refinance by taking a new 30 year loan at the new rate, how much will you save per month? B -Should you refinance today? ip: Use the best interest rate available to you to determine the PV. C - If you expect to move in 3 years, would you want to refinance? Tip: You will have to make payments for the years until you move then pay whatever loan balc consider what the difference in both payments and future value will be

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